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Hines REIT Monthly Total NAV Holds Steady, Owns Interests in 42 Properties

Hines Global Income Trust Inc., a monthly net asset value real estate investment trust, reported that its total NAV and NAV per share is holding steady month-over-month.

The total NAV was approximately $2.61 billion at the close of March 2024, virtually unchanged from February. Its declared monthly NAV per share (inclusive of Class T, Class S, Class D, Class I, and Class AX/JX shares) was $10.02 per share as of March 31, 2024, reporting no change since significant change January’s reporting.

The REIT board of directors authorized monthly gross distribution of $0.05 per share for each share class for the month of April 2024 and will be paid to all stockholders on May 1, 2024.

As of March 31, the REIT owned interests in 42 real properties that were 95% leased and consisted of 18.5 million square feet of leasable space (based on information as of Dec. 31, 2023, but reflecting the acquisitions of the Hanover Diridon West Class-A multifamily asset in San Jose, Calif., in January 2024, and the Floralaan retail warehouse in Venlo, Netherlands, in March 2024). The REIT was 34% levered based on the valuations of our real properties.

As of April 16, 2024, the REIT received gross proceeds of approximately $1.9 billion from the sale of 173.8 million shares of common stock through its current public offering, including proceeds from our distribution reinvestment plan. As of April 16, approximately $270.3 million common shares remained available for sale pursuant to its current public offering in any combination of Class T Shares, Class S Shares, Class D Shares, and Class I Shares, exclusive of approximately $341 million of shares available under the REIT’s distribution reinvestment plan. This is its third public offering, and as of April 16, 2024, it had received aggregate gross proceeds of approximately $3.3 billion from the sale of shares of common stock through public offerings, including proceeds from its distribution reinvestment plan.

Hines Global Income Trust is a public, non-listed real estate investment trust. It commenced operations in 2014 and invests in commercial real estate investments located in the United States and internationally.

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